Cash market members trade in the capacity of either broker, entitled to trade exclusively for third parties, including other members, or dealer, entitled to trade exclusively for their own account. It is possible to combine both membership capacities and become a broker-dealer.
Every member must have a clearing agent on the cash market. If the member is not self-clearing, it can ask a general clearing member (GCM) to act on their behalf. There are many GCMs across Europe that can provide this service.

Simple regulatory procedures
The European Investment Services Directive (ISD) passport is assigned by the member’s home authority and allows it to become a remote member and provide the same investment services inside the Euronext zone as in its domestic market.
By making just one application, customers can access Euronext as a whole.

Costs
There are no application fees to join the Euronext Cash Market and no ongoing annual membership fees. Trading fees are harmonized across all our markets and members are required to select one of three fee packages for equity trading.

Connection
Euronext offers organizations the benefits of a single trading platform (NSC) with unified market rules based on European standards, a single clearing platform (Clearing 21®), and common delivery and settlement services.
Customers can choose between three access solutions depending on their requirements.

For further information about Euronext membership, please contact membership@euronext.com.